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June 30, 2022
If you’re currently going through a divorce in Maryland, you have a lot on your mind. Selling the family home is probably at the forefront, as this is likely your biggest asset. It might also hold sentimental value to both you and your ex. Deciding whether to keep or sell the home is a big decision that only you and your ex can make.
Due to financial, legal or personal reasons, many couples going through divorce feel it’s best to sell their house. This doesn’t necessarily make the divorce process easier, but it offers a clean slate for both sides. Let’s cover the case for selling your house before vs after the divorce, as well as the benefits to working with cash buyers in Capitol Heights MD.
Should I Sell My House Before the Divorce, or Should I Wait?
There are pros and cons to selling your house prior to the divorce, as well as pros and cons to waiting. Only you and your ex can make this decision, and you may have to work with a mediator to come to a mutual agreement. But we can help you look at things from a practical and financial point of view.
Selling before the divorce
If you decide to sell your house before the divorce is final, you set yourself up for an easier departure. When the divorce date finally arrives, you’ll already have taken care of this marital asset, allowing you and your ex to go your separate ways. You won’t have to return to litigation to discuss the house and what repairs need to be made.
And, if you decide to sell your house right now, you can take advantage of a great market. Maryland sellers are in control, making it easier to sell your house without contingencies. You’ll likely get several offers on your home, so you and your ex can get more out of the sale. It’s hard to say what the market will be like in another year or two.
Selling after the divorce
For some people, it makes sense to sell their house after the divorce is final. If you and your spouse are having a hard time agreeing on things, it might be best to wait. You can go through the divorce process first, and give yourself time to accept the separation.
Plus, keeping the home allows you to pay down the mortgage, and it gives you a place to live while the divorce is taking place. This can be especially beneficial to families with children, as they try to maintain as much normalcy as possible. Hopefully by the time the divorce is final, you and your ex will be on better terms and able to agree on more in regards to selling the house.
How Selling Your Capitol Heights House for Cash Can Help During a Divorce
Part of what makes selling a house during a divorce so difficult is the tension. You and your spouse may disagree on things just for the sake of it – which realtor to hire, what repairs to make, what offers to accept, etc. But, if you’re not planning on keeping the house, it’s best to sell as soon as you are ready to work with your ex – and vice versa.
Selling for cash is a great solution for many couples going through a divorce. 4 Brothers Buy Houses will pay cash for your house. We do not need financing through a bank, which allows us to complete the sale in about two weeks. We also waive inspections, appraisals and most closing costs. Our cash buyers in Capitol Heights MD will make you an attractive cash offer, and if you both accept, we can start the closing paperwork right away.
Because you’ll receive the full cash offer, you and your ex can split the profits right down the middle. The goal is to have enough to pay off the loan on your home, as well as something to start your new life with. To get a free cash offer on your Maryland property, contact 4 Brothers Buy Houses today.
June 25, 2022
Once you miss a couple of mortgage payments in Virginia, it doesn’t take long for the lender to start sending you letters in the mail. These letters let you know that if you don’t catch up on your payments, the foreclosure process will begin. However, ultimatums from the lender only add more stress to the situation.
If you don’t see your financial situation improving, letting your Arlington VA property go into foreclosure may seem to be your only option. But we can assure you that other options are available, and that includes selling the house and paying off the loan. This way, you can protect your credit and eliminate the stress of owning your current property.
Foreclosure Laws in Virginia
In Virginia, you must be over 120 days delinquent before your lender can initiate the foreclosure process. Once in foreclosure, there is no deadline to sell the property. The amount of time it will take to sell your house depends on a number of factors, including whether the process is judicial or nonjudicial.
Virginia is a “deed of trust state,” which means they typically allow foreclosure by nonjudicial sale. The nonjudicial foreclosure process is completed outside of the court. The process moves faster because of this. On average, it takes as little as 60 days to foreclose on a property, as long as there is no one to contest or stall the proceedings.
While it can be beneficial to sell a house quickly, this also means that you’ll have to work against the clock if you want to sell.
Best Time to Sell Your Arlington Property is in Pre-Foreclosure
You can sell your property at any time before the redemption period. There is no law in Virginia that provides a post-sale redemption period. This means that you will not be able to redeem the house following a foreclosure.
Ideally, the best time to sell your house is in pre-foreclosure. This period refers to the time between your notice of default and the loss of your property. Pre-foreclosure gives you a bit more time to fix up the home and sell it for a profit.
However, your Arlington home sale will depend on a number of factors, such as what you still owe on the mortgage. If you owe more on your home than what you can sell it for, you’ll have to sell your house in a short sale.
Benefits of Selling Your Arlington House for Cash
4 Brothers Buy Houses has a team of cash buyers in Virginia who will pay cash for your home. We can do this any time before the redemption period – and we can typically close in just TWO weeks! This is an excellent option to consider if you’re pressed for time and need to sell your house fast.
Another benefit of a cash sale is that your house will be sold as-is. Our cash buyers will not ask you to make any repairs or improvements. We also waive inspections, appraisals and most closing costs. You’ll be able to keep the full cash offer, allowing you to pay off the mortgage, and hopefully have something left over for your next adventure!
To find out how much we’ll buy your home for, contact 4 Brothers Buy Houses today. It’s a seller’s market, and we make competitive offers, so you have nothing to lose with a no obligation cash offer!
June 20, 2022
While things are slowly returning to normal, the pandemic has had long-lasting effects on American households. Overall, many Americans are still struggling to make ends meet due to job and wage losses as a result of COVID-19.
But even before the pandemic, it was not uncommon for people to be delinquent in their mortgage payments. During the subprime mortgage crisis of 2007-2010, the mortgage delinquency rate spiked to 9.3 percent. Rates dropped, until 2020, when they climbed back up to 8.22 percent.
Mortgage delinquency rates are dropping again, but even at their lowest, they still teeter around 4.5 percent. So why do people in Washington DC fall behind on their mortgage payments? Below are the top five reasons.
In March 2022, the District of Columbia’s Department of Employment services reported that the unemployment rate was 6 percent. Businesses are still recovering from the pandemic, so many are experiencing slow hiring processes.
In fact, Glassdoor reports that people in the District have the slowest hiring processes compared to job seekers in other cities. Obviously, without a job, it’s difficult to stay current on a mortgage. And even if a person does land a new job, it might not pay what it used to.
Another reason why people default on their mortgage is because they aren’t making the same amount of money. This could be due to a job loss or job change. Or it could also be the result of their employer lowering their salary or cutting their working hours.
Employers cannot lower your salary without telling you first. And, you must agree to it. But, employers can absolutely reduce your salary, just as they can raise it. This article covers five common types of pay cuts and how they can affect you.
The pandemic has an enormous impact on the American economy. A survey from Pew Research found that roughly half of non-retired adults admitted that the coronavirus will make it harder for them to achieve their financial goals.
The same survey from Pew Research also found that one in five Americans worry about paying their rent or mortgage on time, as well as being able to buy enough food for their family. Lower-income adults are hit hardest, as they’re more likely to face job loss, wage loss and other obstacles.
Medical bills are one of the top reasons why people in Washington DC file for bankruptcy. Medical debt is a major source of pressure for Americans, especially for those who lack insurance coverage.
While the goal of health care reform is to make health insurance affordable and accessible to all Americans, over 8 percent of people did not have coverage in 2020. And even with insurance, medical bills can still pile up.
And lastly, divorce is another reason why people fall behind on their mortgage payments. Divorce is expensive, particularly when the two sides can’t come to an agreement. And unfortunately, this is more common than not.
When the two sides are unable to pay the mortgage, it becomes delinquent. At this point, the couple has to decide whether they want to keep the home, sell the home or let it go into foreclosure. However, no newly single person wants to have their credit score go down by 150-200 points!
Get a FREE Cash Offer On Your Washington DC House – We Can Stop Foreclosure!
These are the top five reasons why people fall behind on their mortgage payments in Washington DC. If you’re currently struggling with paying your mortgage, contact 4 Brothers Buy Houses. We will buy your home for cash in just TWO weeks! See what we’ll pay for your home today!
June 15, 2022
Most people will agree that one of the worst parts about selling a home in Washington DC is the showings. Of course, prospective buyers need the opportunity to visit a home in person, but it’s also incredibly stressful to make this happen. You need to keep your property show-ready, leave throughout the day and have strangers roaming through your home. And now, there’s also COVID-19 to think about.
So, is it possible to sell your Washington DC house without showings? Can you request online viewings only?
It is possible to list your home and find a buyer online. Because the housing market is so competitive, more people are willing to make offers on homes without actually seeing them in person. Instead, they’re using online tools to tour the homes.
However, this is more luck than anything. You could find a buyer from out of state who wants to buy your property, but it’s difficult to turn away showings from the start. In order to sell your house, you need to generate as much interest as possible. And this involves being flexible with showings.
Nevertheless, we still have some tips for decreasing the number of showings you have to do. That’s something, right? Let’s dig in.
Promote Your Online Listing
With the competitiveness of the housing market, people are making offers without seeing properties. So, make the most of your online listing by including a video tour and professional photos, as well as a detailed description of your property.
Ask your realtor to include aerial photos, photos of the surrounding area (i.e., clubhouse, playground, swimming pool), as well as any other neat information about your community. By providing this information upfront, you can help people narrow down their search.
That being said, photos alone probably won’t do your property justice. You can’t show off certain features of your property, and this could cause you to get low-ball offers. And, for those who are truly interested in the house, you might end up having to do TWO showings – a virtual showing and an in-person showing. Twice the work for each prospect adds up!
Request Showings by Appointment-Only
Another approach is to request that agents schedule showings by appointment only, and only with pre-approved clients. This may involve obtaining a pre-approval letter from the prospective buyers showing that they’ve qualified for a loan. While you’ll still get your fair share of showings, this narrows it down to the people who can actually move ahead with the sale. It also gets rid of lookie-loos who simply want to view your house with no intention to buy it.
The only problem with this approach is that it limits your exposure. If you want more people looking at your house and making an offer, you’ll need to be flexible with showings – even if the people aren’t pre-approved for a loan. The reality is that plenty of people are pre-approved and won’t actually get the loan, while others haven’t started the process but will have no trouble qualifying.
Offer Virtual Showings
Virtual showings are becoming more popular thanks to technology, and in an effort to protect people from COVID-19. They definitely offer a wide range of benefits, such as being safer, more comfortable and time-efficient. However, you will get a smaller buyer pool, as some people aren’t comfortable purchasing a house without seeing it first.
Also, virtual showings limit prospective buyers. They won’t be able to see certain features of your property or get that “gut feeling” that they’re looking at the right house. Prospective buyers also won’t be able to meet the neighbors or ask questions about the schools, community, etc.
Sell Your Washington DC House WITHOUT Showings!
If you truly do not want strangers coming through your house and looking through your space, consider selling your Washington DC house for cash. 4 Brothers Buy Houses buys properties in as-is condition. We do not request any repairs or improvements, and we waive the inspection and appraisal. Better yet, there are NO showings! We’ll come out to see your property for a few minutes, but that’s it. No cleaning, staging or organizing necessary! Contact us today to set up an appointment.
June 5, 2022
Selling a house in Greater Landover MD can be time-consuming and emotionally draining, especially if you’re a first-time seller. Not only do you have to put time and money into cleaning, organizing and staging the property, but also you have to let strangers in to see your home. And as you may have heard (or experienced), prospective buyers can be pretty harsh.
Fortunately, by avoiding the mistakes below and keeping a level head, you can get through the sales process with as little headache as possible. Here are the house selling mistakes we recommend avoiding for a stress-free experience.
Mistake #1: Getting Emotional
Selling a home is an emotional process. This is the place where you’ve lived, raised a family and had many firsts. Because of the strong emotional ties, you might think that your home is worth more than it is, or you might have trouble letting it go. But, try to look at things from a business perspective. Your goal is to sell your property for as much profit as possible.
Mistake #2: Setting an Unrealistic Price
Setting the right asking price is an important part of selling a house in Maryland. Refer to your comparative market analysis to determine a fair asking price. In the current market, you might be able to get away with overpricing your property, but this won’t work in other markets. In fact, pricing your house slightly lower can work in your favor, as it can generate more interest and higher bids.
Mistake #3: Not Taking Professional Photos
Because most people will learn about your house from the internet, it’s imperative that you take professional photos of your property. Professional, high quality photos will help sell your house, while also showing off its best features. To ensure you get the best photos, you’ll want to hire a professional photographer to take pictures.
Mistake #4: Not Staging Your House
Another thing you’ll want to do, especially before taking photographs, is hire a professional home staging service. Many people assume that these are luxury services, but this is not the case. According to HomeAdvisor, homes that have been staged spend 30 to 50 percent less time on the market, as well as receive offers that are 1 to 5 percent higher. For the best chances at selling your home, professional staging is key.
Mistake #5: Hiding Major Problems
Even if you plan to sell your house for cash, you can’t hide major problems from the buyer. An inspection will turn up issues, so you’ll want to address any known problems in advance. If you don’t fix the problem, you can offer the buyer a credit for fixing it. Also keep in mind that you are required by Maryland law to disclose known issues about your property, such as plumbing or electrical issues.
Not mentally or physically ready to go through the home selling process? Sell your house to 4 Brothers Buy Houses. We buy houses in Maryland for cash – and we’ll buy yours too! Contact us today for your free cash offer.
May 28, 2022
When a potential home buyer makes an offer on a property, it’s usually contingent on a home inspection. As long as there isn’t anything major wrong with the home, the buyer should move forward with the purchase. If there are major issues that turn up during the inspection, they can be handled in one of two ways: either you make the repairs or you issue a credit for the repairs.
However, sometimes home inspections in Virginia turn up significant problems that can kill your sale. Let’s explore what these deal breakers are, why they scare buyers away and what you can do about them.
Home Inspection Issues that Can Squash Your Virginia Home Sale
Most issues in a home inspection report are easy to negotiate. But there are some that can affect the structural integrity of the property, and these are more difficult to work through. If any of these problems turn up in the inspection, you’ll need to address them.
Your home’s foundation is a critical system. If your foundation fails, it can cause a number of problems such as water damage, mold, cracked walls and jammed doors and windows. Foundation problems caught early are easier to fix. But those that are further gone may require a structural engineer and tens of thousands of dollars.
Your best bet: Find out the extent of the damage and your repair options. Minor issues can be easily addressed.
Minor roof problems are typically no big deal and can be addressed through a simple repair. However, if roofing problems are ignored, they can lead to bigger problems such as water damage, mold growth and structural issues.
Even though many people don’t care to replace the roof when they’re moving, this could be something you need to do to sell your house fast in Virginia. If there is damage to your roof that came from an act of nature, your insurance may cover a roof replacement.
Water intrusion can come from a number of issues, such as foundation settling. But it can also be caused by improper lot grading or design flaws. Virginia properties with basements also tend to have more issues with water.
Because water can lead to extensive damage and hazardous mold, most buyers don’t want to deal with it. You’ll need to address the vulnerable parts of your home and pay for repairs, which may involve waterproofing your basement.
Termites are common in many parts of the country, including here in Virginia, so you can’t rule them out entirely. If caught early, termites can be successfully treated by a pest control company. However, if the problem is overlooked, the damage done to your home can be significant.
Termites feed on wood and can create a large infestation that’s difficult to eradicate. If there are signs of termite activity in your home, consult with a professional termite specialist. They can determine the damage and how to fix the problem.
Skip the Inspection – Sell Your House in Virginia Today!
These are just a few of the things that can squash your home sale. Other concerns include electrical problems, plumbing problems, asbestos and lead paint. If your home has one or more of these issues, you may be concerned about your options to sell.
For a free, no obligation cash offer, contact 4 Brothers Buy Houses today. We don’t require an inspection, and we don’t ask sellers to make any improvements or repairs. We buy houses in as-is condition, and we will buy yours, too!
May 20, 2022
The number of house buyers in Maryland who prefer to pay in cash is growing, but the majority still need financing. If you’re planning on selling your property in the near future, you might be wondering how you can appeal to cash buyers, as they do offer a number of advantages. For example, you can sell your house much faster and avoid costly repairs.
Not to mention, some cash buyers are getting closer to offering market value, so you might not have to take much less to sell your house for cash. It’s a competitive market, and a seller’s market at that, so the cards are definitely in your favor.
Below are five great reasons to sell your house for cash in Clinton MD.
You’re in a rush.
Selling your house for cash is a much faster process than waiting for the buyer to secure financing. 4 Brothers Buy Houses can complete the process in about two weeks from start to finish – it takes around 7 to 10 days to close once you accept the offer.
Most lenders, on the other hand, need about 30 to 45 days to finalize the details of the loan. And if there are problems, it will hold up the process further. Bottom line: If you’re in a hurry to sell your Clinton property, a cash sale will meet your timeline.
You want a secure sale.
Even though the majority of home sales go through, it’s not unusual for buyers to back out of the contract. Perhaps they weren’t able to secure financing, or they weren’t comfortable dealing with certain issues that turned up during the inspection.
Cash buyers in Clinton MD are much more secure. They usually do not require an inspection, appraisal or home sale contingency. And if they do inspect the property, it’s usually for informational purposes only. This gives you the peace of mind that they won’t back out.
Your home needs a lot of work.
If you’re overwhelmed with prepwork, the thought of getting your home on the market can be daunting. From costly home repairs to cleaning and organization, it could take months to get your home listed.
Cash buyers in Clinton MD often look for homes that need work. For instance, 4 Brothers Buy Houses loves to take on projects that average home buyers would not. We have a great network of contractors who fix up the properties we buy, so we never mind the challenge!
You would prefer not to have showings.
Some people aren’t comfortable having strangers in their home, and that’s understandable. Plus, to make a positive impression on prospective buyers, you have to clean, organize and stage the home.
If you’re not prepared to do these things, a cash sale is an option you’ll be happier with. There is only one showing you need to do, and that’s for our cash buyers. We’ll be in and out in no time – we just want to see what we’re investing in!
You need quick access to cash.
If you’re struggling to pay your mortgage or other bills, an all-cash offer can give you the money you need to get out of a financial jam. Again, it takes about two weeks to complete an all-cash home sale. This means that you could have the money you need to pay off your debts by the time the next billing cycle rolls around.
These five reasons are great motivations to sell your Clinton MD house for cash. To get a free, no obligation cash offer on your property, contact 4 Brothers Buy Houses today.
May 15, 2022
When selling a house in Washington D.C., there are certain things you must disclose to the buyers, even if you’re selling the property as-is. While disclosure documents are standard in all states, the requirements do vary.
For example, in Washington D.C., buyers cannot waive their rights to receive a disclosure document. Fortunately, the D.C. Disclosure Statement includes all disclosures that sellers must make, including physical and environmental factors.
Let’s learn more about what disclosures a seller must make when selling their house in D.C.
Washington D.C.’s Seller Disclosure Code
Under the D.C. code, the seller of a residential property with no more than four units must give prospective buyers a property disclosure statement. Even if the seller has a real estate agent or broker, it is still their responsibility to fill out the disclosure statement.
The D.C. Disclosure Statement covers a number of items. It’s important that sellers fill out this form to the best of their knowledge and in good faith. Hiring an inspector can help uncover issues that the seller may not be aware of.
What Types of Things Must Sellers Disclose in Washington D.C.?
If you are planning to sell your D.C. property, it’s important to know what to disclose so that you’re not held liable later on. Even if you are selling your house as-is, you still need to fill out this form to the best of your knowledge. Selling a property as-is means that you’re not responsible for repairs or improvements. But you are still responsible for disclosing information regarding your property.
The D.C. Disclosure Document will ask about your property’s features and their condition, such as the roof, chimney, insulation, windows, HVAC system and appliances. It will also ask about exterior or environmental issues like drainage, property damage and wood-destroying pests. Toxic substances are also a concern, so you’ll need to list the presence of radon, asbestos or formaldehyde.
Additional disclosures you may have to make are:
- Death in the home related to a violent crime
- Neighborhood nuisances like landfills or airports
- Homeowners’ association (HOA) information
- Repair history
- Water damage
- Missing items
- Historic district location
Sell Your Washington D.C. House As-Is
4 Brothers Buy Houses will pay cash for your Washington D.C. property. While you will have to fill out a Disclosure Document, the findings will not scare us away! Because we buy houses as-is, we will not ask you to make any repairs or improvements. It’s a clean transaction between you and our cash buyers.
To get a free cash offer on your Washington D.C. house, contact 4 Brothers Buy Houses today!
May 5, 2022
Inheriting real estate in Virginia is a great feeling – and it can be the financial windfall you’ve been hoping for. But it can also mean a long list of headaches that you’re not prepared for. This is why it’s important to think through all of your options so that you can make an informed decision for yourself today and in the future.
I’ve Inherited a Property in Virginia. Now What?
When you find out that you’ve inherited a house in VA, you have three main options: move in, sell or rent. Which option you choose depends on many factors, such as your current living situation, your finances, whether you have siblings, the physical condition of the house and whether the property has a mortgage or liens.
Some of the things to consider are:
- Capital gains tax. You do not have to pay capital gains tax if you keep the property, but you may have to if you sell the property.
- Property taxes. How much are the property taxes on the current property? These are paid monthly or twice a year, even if the house is paid off.
- Mortgage. Does the property have a regular mortgage or reverse mortgage? You may have to pay this immediately.
- Repairs. What condition is the house in? It could need extensive repairs and improvements.
- Property maintenance. Aside from making repairs and improvements, you will need to regularly maintain the property by mowing the lawn, adjusting the thermostat, etc.
- Homeowners insurance. You’ll need to make sure the house has a standard homeowner’s insurance policy.
Benefits and Burdens of Inheriting a VA House
First, let’s cover the benefits of inheriting a home. Fortunately, there is plenty to celebrate. An inherited property is a financial windfall that can be used for spending or saving. You can also move into the house, which could be a step up from where you are living now. Or, you can rent out the property for a steady stream of income.
However, there are many problems that come with an inherited house that people often aren’t prepared for. It could involve negotiations with your siblings or other heirs and increased legal and financial responsibilities. The latter gets even tricker when the property is in poor condition and needs repair work.
Selling Your Inherited Property in VA
If you and your siblings agree, you can sell the VA house for cash and split the money. This is the fastest, easiest and often fairest way to handle things. You don’t need to invest any money or time into the property, and you don’t have to worry about who is going to take care of the house when it needs work.
To get the ball rolling, all you need to do is contact a house buying company like 4 Brothers Buy Houses. We will make you an attractive cash offer, and if you accept, we’ll start the closing paperwork right away. Not only do we pay cash, but also we buy properties as-is, pay most closing costs and charge no fees or commissions.
To get a free cash offer on your inherited property in Virginia, contact 4 Brothers Buy Houses. As long as everyone on the property agrees, we can buy your home and complete the process in just TWO weeks!
April 30, 2022
A forbearance plan helps you with short-term hardships by reducing or pausing your payments for a temporary time. This way, you can get back on your feet while protecting yourself from delinquencies and foreclosure. But what some people forget is that 6 or 12 months comes quickly, and you’ll need to have a plan to repay your missed or reduced payments at this time.
Let’s learn more about the different options you have after your mortgage forbearance plan in Temple Hills MD.
Repayment Options Following a Forbearance Plan
Before your forbearance plan ends, you should reach out to your servicer to see what comes next. Otherwise, they should contact you 30 days from the time your plan is set to end. The purpose of this conversation is to discuss your repayment plans.
You do not have to pay everything back at once. Here are your options:
If you can afford it, you can repay a portion of the missed amount each month. This amount will be spread over a certain number of mortgage payments, and you must pay it when you pay your mortgage. Your mortgage will be higher during this time and return to regular once you pay everything back.
Another option you have is to pay the total amount missed all at once. The benefit of this option is that you can get back to your regular monthly mortgage payments instead of paying more each month. However, in order to make this work, you must have a lump sum of money available.
Also known as a partial claim, a deferral moves your missed payments to the end of your loan. This way, you can resume your regular mortgage payments without having to pay extra every month. The lender may also agree to put the missed payments into a subordinate lien that you can pay when you refinance, sell or terminate your mortgage.
A loan modification can reduce your monthly payments permanently. After you make several payments under a trial period plan, your mortgage payments will be permanently reduced. However, it’s important to note that you might end up paying more over time because the loan will be extended, increasing what you pay in interest.
Sell Your Temple Hills House for Cash – It’s Quick and Simple!
Maybe you thought you would get back on your feet quicker than you have. Or perhaps you’ve realized that you can no longer afford your home. If this is the case, you can sell your house in Temple Hills for cash.
4 Brothers Buy Houses will pay cash for your property! We buy houses in as-is condition, which means you are not responsible for repairs or improvements. There are also no commissions or fees, and we pick up most closing costs.
Imagine what some cash could do for you? Contact our cash house buyers in Temple Hills today to get your free, no obligation cash offer!